Trust property - PPR

We have an IP held in a trust structure (fixed unit trust) with a corporate trustee.

We are looking at making this our PPR for the long term and have been unable to find a way to achieve the exemptions associated with PPR other than selling the property to ourselves removing it from the Trust.

Would anyone know if there are any concessions with stamp duty and CGT when you sell to yourself.

Thanks

Wayne

 

If it is a fixed trust and the unit holders became the owners there may be CGT exemptions and stamp duty exemptions.

Actually the main residence exemption could even apply.

 

Thanks Terry, I hope we can limit fees associated with the transaction.

 

Yes the Trust is a fixed unit Trust with 100% of the units assigned to me (I' am also a director of the corporate trustee).

 

Speak to a duties lawyer about trust merger. Unless there is a mortgage involved could be a saver. Lawyers will need to address the CGT exemptions too as its complex and needs legal advice and potentially legal advice on ownership interests or a long term lease etc

However there could be CGT issues OR if the property came to be held in a trust after a dev then there could be more complex issues too. A liitle advice and planning will assist

 

Are there any recommendations for NSW lawyers, specialising in trusts and duties.

 

The lawyer @Terry_w who has commented above specialises in entity structuring and is in Sydney.